The information in this message does not represent any financial or investment advice. They're just random thoughts in my head.
gm
**MACRO** - Well we hit ATH in the NASDAQ yesterday but stocks are retreating ever so slightly this morning, down about 0.2% on both SPX and NDQ. Interest rates on the other hand have had a big move lower which now puts the curve at 438/389/389/402 bps across 2/5/10/30y. It takes us to the lowest levels we've seen across the curve for the last 6 months almost. Not much more to add there apart from that.
**CRYPTO** - A strong start to the day as BTC retests 44k, with BTC dominance rising to almost 54% and while ETH/BTC is looking like it may break lower than 0.051. The holy trinity of alt L1s look good too with SOL/AVAX/INJ all climbing 10-15%. There seems to be intensifying rumours that we will see an early ETF approval once again. If it does happen one would think it should happen this week because next week we have the deep holiday period and I presume it's unlikely anyone is going to be working overtime to get out what is a hugely important decision for the SEC and crypto. My feeling is if we get an early approval, like today or tomorrow, it's going to be very positive for crypto and won't be sell the news, because I think it comes as a positive surprise and at a time when people will have a lot of time to be at screens to degen. We'll see what happens, but that's my 2C...I'm feeling pretty bullish here on that.
**NFTs** - We've seen a slight rebound in NFTs but tbh there is really nothing going on in ETH NFTs at the moment, just the usual volume ticking along. SOL NFTs also seem to have stabilised. I don't see any materially large sales worth noting. I think we are about to see a big crypto move here and NFTs might take a quick breather before activity resumes and things start getting exciting.
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GL!